Deadline: 01-Oct-21
The Enterprise Ireland is seeking applications for Regional Enterprise Transition Scheme (RETS) Feasibility Study Fund to provide financial assistance to not-for-profit projects which can demonstrate an ability to deliver regional impact.
The scheme is part of Government’s programme of assistance for regional enterprise development and assistance to regions facing socio-economic difficulties and transition as a consequence of the Covid-19 pandemic and other regional challenges associated with the UK’s departure from the EU.
This RETS Feasibility Study funding is targeted at regionally based not-for-profit applicants which meet the eligibility criteria and have plans to deliver new regionally significant and impactful projects. The purpose of such projects shall be to assist regional enterprises to innovate and/or to develop service offerings and to adjust, pivot or reposition businesses to respond to new market realities arising from the impacts of Covid-19, Brexit and other market changes as defined in the scheme objectives, including climate change/sustainability, innovation and digital transition.
Funding Information
- In addition to the main Scheme, separate funding of €500,000 is also being provided for an associated RETS Feasibility Study Fund to support detailed evaluation of early-stage opportunities for new impactful regional enterprise development projects.
- The funding limit per applicant under this Feasibility Study will be from €20,000 up to a maximum €50,000 in grant aid per project, or 50% of eligible expenditure, whichever is the lesser.
Eligibility Criteria
- To be eligible for RETS Feasibility Study funding, applicants must be one of the following:
- Not-for-Profit Designated Activity Company (DAC), or a Company Limited by Guarantee (CLG), which are registered with the CRO under the Companies Act 2014 prior to the date of formal submission of their applications.
- Public bodies, such as Local Authorities, Institutes of Technology/Higher Education Institutes.
- Not-for-profit sectoral, regional, county or local entities with a purpose of benefiting the wider needs of the enterprise community and the region/sector as defined in the scheme objectives. Please note where a project is led by a public body, the submitted project must be additional to the public body’s existing work programme.
- The projects should have:
- Strong industry linkages with a focus on specific sector/s.
- Strong alignment with Scheme objectives
- Linkages to key regional/sectoral stakeholders including 3rd level/HEI’s
- Defined KPI’s & Metrics, with clear timelines for delivery
- A clearly defined and costed project plan
For more information, visit https://www.enterprise-ireland.com/en/funding-supports/Regional-Enterprise-Transition-Scheme-Feasibility/RETS-Feasibility.html